Tejas Networks Ltd.Record Loss But Eyes FY27 Turnaround

Tejas Networks reported its most challenging year with FY26 revenue of ₹1,103 crore and a record PAT loss of ₹909 crore, driven by project delays and continued heavy R&D investments.

Despite the financial strain, the company successfully deployed BSNL's 100,000-site 4G network, which was launched by the Prime Minister, and secured its first international wireless contract with NEC for 5G Massive MIMO radios. The order book grew strongly by 49% year-on-year to ₹1,514 crore, excluding the pending BSNL add-on order for 18,000 sites. Management maintained significant R&D spending, increasing intangible assets under development from ₹400 crore to ₹960 crore, focusing on 5G-Advanced, 6G, and AI-driven network infrastructure.

The balance sheet shows severe strain with receivables at ₹3,258 crore and inventory at ₹2,438 crore, though BSNL collections are expected to materialize significantly during FY27. Management expressed confidence in achieving profitability in FY27 through improved business outlook, order book conversion, and tighter financial discipline while continuing strategic investments aligned with the AI-driven network infrastructure supercycle.